Understand the ins and outs of mortgage loan processing. Contact our processors for seamless assistance, saving you time and resources.

Mortgage Loan Basics: What is Mortgage Loan Processing? | wemlo

We’re breaking down everything you need to know about mortgage loan processing.

A borrower submits their mortgage loan application. 

An underwriter verifies the borrower’s financial information to determine if they qualify for a home loan. 

So, what happens in between application and underwriting? Mortgage loan processing.

Working with wemlo processors is all about adding consistent support, not another expense. With wemlo, you get:

Hiring an in-house processor means a mortgage broker is responsible for:

In-house processing can be a real resource drain for mortgage brokers. But when they team up with third-party processors, mortgage brokers can save time, money, and other valuable resources.

Third-party processing vs In-house processing

A mortgage loan processor steps in as the liaison between borrowers, mortgage brokers, and underwriters during the origination process. 

In a nutshell, a loan processor collects and prepares all the required documentation before the loan is sent to underwriting.

Whether it’s to increase their productivity or profit margins, many mortgage brokers are choosing to outsource their loan processing needs. 

By using a third-party processor, mortgage brokers avoid the operational headache of hiring and retaining an in-house processor or – even worse – handling the loan processing themselves.

What’s the Deal with Third-Party Mortgage Loan Processing?

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